Traders Sell Analog Devices (ADI) on Strength (ADI)

Traders sold shares of Analog Devices, Inc. (NASDAQ:ADI) on strength during trading hours on Monday. $29.14 million flowed into the stock on the tick-up and $50.18 million flowed out of the stock on the tick-down, for a money net flow of $21.04 million out of the stock. Of all stocks tracked, Analog Devices had the 18th highest net out-flow for the day. Analog Devices traded up $0.19 for the day and closed at $95.13

ADI has been the topic of several research reports. Zacks Investment Research cut Analog Devices from a “buy” rating to a “hold” rating in a report on Tuesday, July 31st. Morgan Stanley boosted their price target on Analog Devices from $108.00 to $110.00 and gave the stock an “overweight” rating in a report on Thursday, May 31st. B. Riley reduced their price target on Analog Devices from $122.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, May 31st. Stifel Nicolaus boosted their price target on Analog Devices from $105.00 to $108.00 and gave the stock a “buy” rating in a report on Thursday, May 31st. Finally, Credit Suisse Group boosted their price target on Analog Devices from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, May 31st. Nine research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $104.63.

The firm has a market cap of $35.21 billion, a P/E ratio of 20.30, a P/E/G ratio of 1.32 and a beta of 1.21. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.53 and a quick ratio of 1.14.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Wednesday, May 30th. The semiconductor company reported $1.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.37 by $0.08. Analog Devices had a return on equity of 20.34% and a net margin of 17.72%. The business had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.47 billion. During the same period in the prior year, the business posted $1.03 earnings per share. The firm’s revenue was up 31.8% on a year-over-year basis. equities analysts expect that Analog Devices, Inc. will post 5.8 EPS for the current fiscal year.

In other Analog Devices news, SVP Joseph Hassett sold 17,150 shares of the business’s stock in a transaction that occurred on Friday, June 1st. The stock was sold at an average price of $97.95, for a total value of $1,679,842.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Peter Real sold 4,595 shares of the business’s stock in a transaction that occurred on Wednesday, May 30th. The shares were sold at an average price of $93.07, for a total value of $427,656.65. Following the completion of the transaction, the senior vice president now directly owns 18,195 shares in the company, valued at $1,693,408.65. The disclosure for this sale can be found here. Over the last three months, insiders sold 80,050 shares of company stock worth $7,712,311. Insiders own 0.70% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Washington Trust Bank raised its position in shares of Analog Devices by 127.7% during the second quarter. Washington Trust Bank now owns 1,070 shares of the semiconductor company’s stock worth $103,000 after purchasing an additional 600 shares during the period. Integrated Investment Consultants LLC acquired a new position in shares of Analog Devices during the second quarter worth approximately $130,000. Clarus Wealth Advisors acquired a new position in shares of Analog Devices during the second quarter worth approximately $139,000. Summit Trail Advisors LLC raised its position in shares of Analog Devices by 6,966.6% during the first quarter. Summit Trail Advisors LLC now owns 147,410 shares of the semiconductor company’s stock worth $147,000 after purchasing an additional 145,324 shares during the period. Finally, Massey Quick Simon & CO. LLC raised its position in shares of Analog Devices by 98.8% during the first quarter. Massey Quick Simon & CO. LLC now owns 1,660 shares of the semiconductor company’s stock worth $151,000 after purchasing an additional 825 shares during the period. 88.03% of the stock is currently owned by hedge funds and other institutional investors.

About Analog Devices (NASDAQ:ADI)

Analog Devices, Inc designs, manufactures, and markets a portfolio of solutions that leverage analog, mixed-signal, and digital signal processing technology, including integrated circuits (ICs), algorithms, software, and subsystems. It offers data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; high-performance amplifiers to condition analog signals; and radio frequency ICs to support cellular infrastructure.

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